Our Leadership

There are three groups that work together to lead the sponsorship, governance, and day-to-day operations of the Plan: our Sponsor Body, our Board of Directors and our Senior Leadership Team.

• Sponsor Body

  Oversight of the joint sponsorship agreement is provided by the Sponsor Body, comprised of four to six GNL representatives, four to six union representatives, one non-union employee representative and one retiree representative appointed by the Newfoundland and Labrador Public Sector Pensioners Association.

  The Sponsor Body directs Provident10 regarding the level of risk appropriate for the Fund’s asset mix and makes decisions regarding plan benefits.

• Board of Directors

  We are governed by a Board of Directors, which has been appointed by the Government of Newfoundland and Labrador (GNL) and our member unions.

  Our Board of Directors is comprised of 14 appointees:

  • Six GNL appointees
  • Six union appointees
  • One non-union appointee
  • One inactive member appointee

  The Board is responsible for pension administration, corporation management, actuarial reporting, and fund investments (including the setting of investment objectives and strategy, establishing investment policies, and monitoring fund performance and compliance).

  It acts independently of the Sponsor Body and Provident10 management and makes decisions in the best interest of Plan beneficiaries.

  As prescribed in our Joint Sponsorship Agreement, appointment of the Provident10 Board of Directors Chair and Vice Chair alternates every two years. These appointments are confirmed based on selection among the GNL-appointed Board members and the union-appointed Board members.

  There are three sub-committees comprised of Board members that play an advisory role to the Board: The Audit and Finance Committee, the Investment Committee, and the Governance and Human Resources (G&HR) Committee.

• Audit Committee

  The Audit Committee advises the Board on financial reporting, accounting systems, and internal controls. They review the annual financial statements, recommend and support internal accounting policies, and develop a management profile for risk assessment.

• Investment Committee

  The Investment Committee includes two additional Board-appointed investment experts and advises on the investment management and oversight of the Fund. They provide guidance, and monitor implementation of, investment policies, strategies, and mandates. They also review total fund and investment manager performance.

• Governance and Human Resources (G&HR) Committee

  The Governance and Human Resources (G&HR) Committee advises on best practices with regards to matters of governance and human resource policy, procedures, and practices. They provide guidance on corporate governance and ethics, executive review and compensation, and corporate communication policies and practices.

• Our senior leadership team

  Our Chief Executive Officer and senior leadership team are responsible for all operational matters related to Provident10. This team of experienced professionals lead the implementation of strategic plans and policies with has extensive functional expertise and diverse educational backgrounds.

  Our team lives and works right here in Newfoundland and Labrador and share a commitment to achieving our short and long-term goals, for the benefit of all members.